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Published on 7/20/2023 in the Prospect News Bank Loan Daily, Prospect News Convertibles Daily, Prospect News Distressed Debt Daily, Prospect News Emerging Markets Daily, Prospect News Investment Grade Daily and Prospect News Private Placement Daily.

Ontario Gaming clears junk calendar; Coty above par; R.R. Donnelly up; Beacon flat

By Paul A. Harris and Cristal Cody

Portland, Ore., July 20 – Amid light news flow in the dollar-denominated high-yield bond primary market on Thursday Ontario Gaming GTA LP priced a $400 million issue of seven-year senior secured notes (B2/B/B+) at par to yield 8%, inside of talk.

In the secondary, Coty Inc.’s 6 5/8% senior secured notes due 2030 (Ba2/BB) topped junk secondary action Thursday in the first session after it priced, a source said.

The bonds were up 1/8 point from issuance on nearly $75 million of paper changing hands.

R.R. Donnelley & Sons Co.’s new 9¼% junior-lien secured notes due 2028 (B3/B-) traded Thursday 4 points better than where it priced earlier in the week, a trader said.

Beacon Roofing Supply Inc.’s new 6½% senior secured notes 2030 (Ba3/BB) also were active in lighter trading and stayed mostly wrapped around issuance over the session.

“It wasn’t slow, but volume was a little on the lighter side,” a trader said.

The iShares iBoxx High Yield Corporate Bond ETF declined 33 cents, or 0.44%, to $75.18.


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